Ternium (NYSE:TX) Sets New 12-Month High – Here’s What Happened

Ternium S.A. (NYSE:TX)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $50.59 and last traded at $49.56, with a volume of 79535 shares changing hands. The stock had previously closed at $46.99.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TX. Scotiabank restated a “sector perform” rating and issued a $40.00 target price on shares of Ternium in a report on Thursday, March 26th. The Goldman Sachs Group restated a “buy” rating and issued a $57.00 target price on shares of Ternium in a report on Friday. UBS Group increased their target price on Ternium from $39.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, April 2nd. Itau BBA Securities upgraded Ternium from a “market perform” rating to an “outperform” rating and set a $59.00 target price for the company in a report on Sunday. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Ternium in a report on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $46.35.

Ternium Trading Up 5.4%

The stock has a market cap of $9.93 billion, a price-to-earnings ratio of 17.03 and a beta of 1.26. The company has a quick ratio of 1.53, a current ratio of 2.63 and a debt-to-equity ratio of 0.14. The business has a 50-day moving average of $42.07 and a 200-day moving average of $40.70.

Ternium (NYSE:TX) last released its quarterly earnings data on Tuesday, March 31st. The basic materials company reported $1.10 earnings per share (EPS) for the quarter. The firm had revenue of $3.93 billion during the quarter. Ternium had a return on equity of 3.70% and a net margin of 3.66%. As a group, research analysts forecast that Ternium S.A. will post 4.04 earnings per share for the current year.

Institutional Trading of Ternium

A number of institutional investors have recently bought and sold shares of TX. Lazard Asset Management LLC lifted its position in shares of Ternium by 8.0% in the first quarter. Lazard Asset Management LLC now owns 6,336,127 shares of the basic materials company’s stock worth $254,395,000 after buying an additional 469,846 shares during the last quarter. Cape Ann Asset Management Ltd lifted its position in shares of Ternium by 20.5% in the fourth quarter. Cape Ann Asset Management Ltd now owns 1,068,649 shares of the basic materials company’s stock worth $40,812,000 after buying an additional 182,000 shares during the last quarter. Amundi lifted its position in shares of Ternium by 19.9% in the first quarter. Amundi now owns 703,304 shares of the basic materials company’s stock worth $28,238,000 after buying an additional 116,813 shares during the last quarter. Millennium Management LLC lifted its position in shares of Ternium by 569.4% in the first quarter. Millennium Management LLC now owns 126,827 shares of the basic materials company’s stock worth $3,952,000 after buying an additional 107,880 shares during the last quarter. Finally, Schroder Investment Management Group lifted its position in shares of Ternium by 4.7% in the third quarter. Schroder Investment Management Group now owns 2,279,273 shares of the basic materials company’s stock worth $79,159,000 after buying an additional 101,748 shares during the last quarter. Institutional investors and hedge funds own 11.98% of the company’s stock.

About Ternium

Ternium SA (NYSE:TX) is a leading vertically integrated steel producer with operations across the Americas. The company manufactures a broad range of flat and long steel products, including hot?rolled and cold?rolled coils, galvanized and tin-coated sheets, plates, rebars, wire rods, bars and structural sections. These products serve diverse end markets such as automotive, construction, energy, industrial machinery, home appliances and packaging.

Established in 2005 through the consolidation of steel assets in Argentina and Mexico, Ternium has grown to operate major production facilities in Argentina, Brazil, Mexico, Colombia, Central America and the United States.